Bitcoin (BTC) may face downside risks in the near future, as market sentiment begins to weaken. On the macroeconomic front, a stronger dollar and expectations of interest rate hikes by the Federal Reserve have dampened the upward potential for risk assets. At the same time, Bitcoin's technical trends show that the price is blocked at a key resistance level, with multiple unsuccessful attempts to break through, suggesting a potential pullback in the short term. Additionally, concerns about potential regulatory tightening are rising, which may further undermine investor confidence. If it falls below the main support range, it could trigger more selling pressure. Investors need to operate cautiously in the current environment, avoiding blind entry, and pay attention to long-term trend changes.